Best and worst performing currencies since the last Winter Olympics

Every four years, the Winter Olympics provides an opportunity for global superpowers and political rivals to pit their sporting strengths against one another. We thought it would be interesting to take a look at the performance of the currencies of the participating nations since the Sochi Winter Olympics in 2014. Using the US dollar as the barometer, some currencies have enjoyed a long, graceful flight. For others, the slope was just a little bit too slippery.

Strongest currencies since 2014

Gold Medal

Despite its weakness in 2017, the US dollar came out as one of the clear winners. In fact, the only three currencies to beat the greenback over the period all went home without medals in the Winter Olympics in 2014. Iceland won the currency event as the krona was up 14% against the US dollar. It has been argued that the krona is the most expensive currency in the world. This growth is due to economic, tourism and domestic demand growth.

Bronze Medal

Currency fluctuation since 2014

The Trump administration has had much to say starting its term with a tirade against the Chinese government for its supposedly purposeful devaluation of its currency. Despite the rhetoric, the yuan is only down around 4% over the period – ending the four-year period stronger than both the euro and the pound. Sterling was down 13% against the dollar while the euro was down almost 9%. This puts both currencies mid-table.

Weakest currencies since 2014

At the other end of the medal table, the Argentine peso lost around 60% of its value since 2014. The Mexican peso and the Turkish lira have also suffered, losing around 30% and 40% respectively, while the Brazilian real has fallen almost 25%. Finally, while Kazakhstan took a medal home in 2014, the tenge cannot hold its head so high as it fell over 50%. As for the winners of the last Winter Olympics, Norway? Well, the Olympic team will be seeking some form of retribution, for the krona was down around 20% against the US dollar since Sochi 2014.